According to House Speaker Nancy Pelosi, new legislation banning Congress members from trading stocks might be in play. This proposal comes in the wake of Insider’s detailed investigation of the countless financial conflicts of interest plaguing Congress.

It seems like a given that members of Congress shouldn't be allowed to invest in the very industries they oversee. Yet, they do just that. In 2021, 54 members of Congress and at least 182 top staff members violated the STOCK Act, which requires that members disclose financial trades within 90 days.

In 2020, 75 lawmakers held stocks in vaccine producers Moderna, Johnson & Johnson, or Pfizer. Most of those trades happened in the early weeks of the pandemic. Fifteen Congress members that have a hand in molding defense policy invest in military contractors. Over a dozen members in key roles shaping energy policy invest in fossil fuel corporations. The list goes on.

To make matters worse, these lawmakers got away with barely a slap on the wrist, using excuses ranging from oversights to clerical errors to inattentive accountants. Congress members who use their power for personal gain have managed to dismantle ethical standards, avoid consequences, and gaslight the public into brushing off moments when personal finances clashed with public duties.

These blatant conflicts of interest are a slap in the face to the voters who elected these members. We need better guardrails in place to ensure transparency and accountability in Congress.

Three in four voters agree that members of Congress should be banned from trading stock. Lawmakers are in Congress to serve, not to gain an unfair advantage in the stock market.

Sign the petition: Members of Congress should not be allowed to own or trade individual stock.